08/10/2011 Trading Signals

THE SHORT-TERM TREND IS DOWN, I HOLD NO POSITION OVERNIGHT

The bottom line, strangely enough, I don’t feel bearish about today’s actions as I think the market is taking a breath here before the next leg down. Well, perhaps another sharp down tomorrow would wake me up.

A little bullish biased toward tomorrow for 2 reasons:

VIX rose more than 22%, buy at close today and sell tomorrow at close, you have 76% chances for the last 2,000 trading days.